# DeFi Vaults Issue #65

> DeFi Market Research Newsletter 

**Published by:** [Defi Vaults](https://paragraph.com/@defivaults/)
**Published on:** 2023-07-31
**URL:** https://paragraph.com/@defivaults/defi-vaults-issue-65

## Content

If you've been wondering why the look of DeFi Vaults has changed, I have switched my newsletter service provider from Substack to Paragraph.xyz! Paragraph is a truly decentralized publishing platform that allows me to own my work (via ARweave) and connect with you guys in new ways (collectible posts, token-gated posts, wallet notifications etc.) Hope you guys like the new look ;). Now, on to latest DeFi alfa:⚡️What’s new?⚡️🏦 DeFi Vault Spotlight: MIM/USDC.e/USDT >5% APY 🧪 Yield Farming 101: $GHO Ce/DeFi Stablecoin Strategy 📊 Charts & Stats: Introducing the DeFi Vaults Stablecoin Dashboard 🐦 Last Week in Crypto Twitter (CT): Frax experiments with tbills for V3, Liquity V2 is on the horizon, Optimism introduces new SuperChain governing structure, and more. 🏦 DeFi Vault Spotlight: MIM/USDC.e/USDTThis MIM/USDC.e/USDT vault on Beefy (via Arbitrum) hasn't dropped below a 5% APY since it's inception! It also has a TVL of ~$2.2M which is a great sign for users with <=$10k funds, as your deposits won't rapidly dilute the rewards. Note: USDC.e is a token representing USDC on Avalanche that was bridged from the Ethereum blockchain via the Avalanche Bridge.Risks:MIM depeg riskUSDC.edepeg riskbridge hackUSDT depeg riskView more Stablecoin yields, here. 🧪 Ce/DeFi Stablecoin StrategyCe/DeFi Stablecoin Yield Farming StrategyStrategyBalancer's GHO/Boosted Aave v3 USD pool (via Ethereum) is receiving heavy emissions 💸. The pool currently holds a TVL of $5.5M and is rewarding depositors with a 17%-37% vAPY! I don't expect these emissions to last forever, so in order to diversify your position you can swap your $BAL rewards to crvUSD and deposit in Conic's Omnipool for 17%. This also helps maintain the APY of your initial deposits in Balancer as your not contributing to diluting the GHO/Boosted Aave v3 USD pool further.Deposit $GHO into the GHO/Boosted Aave v3 USD pool on BalancerSwap $BAL rewards for $crvUSD on UniswapDeposit $crvUSD into Omnipool on Conic FinanceRisks:Stablecoin depeg risk:GHOUSDCUSDTcrvUSDSmart contract risk from depositing funds in multiple protocols📊 DeFi Vaults Stablecoin Dashboard I've compiled my top picks for stablecoin vaults on each chain and compiled them into a neat dashboard with the help of @backtest_dummy (Blockchain data scientist). The point of this dashboard is to provide you a quick overview of some of the best stablecoin yields on chain (Ethereum, Arbitrum, Optimism, Polygon, and Avalanche). I am tracking the following metrics for each chain:DEX volumeStablecoin TVLAnd the following metrics for each vault:TVLAPYArbitrum Stablecoin Vaults MetricsThis dashboard tracks the following vaults:Ethereum$eUSD+FRAX/USDC (BeefyFinance)$hyUSD/$eUSD (CurveFinance)$MIM/$DAI/$USDC/$USDT (BeefyFinance)$R-DAI (BeefyFinance)$TUSD/$DAI/$USDC/$USDT (BeefyFinance)$USDT (IronBank)Polygon$DAI (gDAI vault) (GainsNetwork)$DAI/$USDR (BeefyFinance)$jEUR/$PAR (BeefyFinance)$MAI/$USDC (BeefyFinance)$USDC/$USDR (BeefyFinance)Optimism$USDC (hot tub) (Perp Protocol)$jEUR/$agEUR (BeefyFinance)$LUSD/$DAI (BeefyFinance)$LUSD/$USDC (BeefyFinance)$LUSD/$USDT (BeefyFinance)$MAI/$USDC (BeefyFinance)Avalanche$MAI/$DAI$USDC/$USDT (BeefyFinance)$MAI/ $USDC (BeefyFinance)$MIM/$USDT (TraderJoe)$USDT/ $USDC (BeefyFinance)Arbitrum$agEUR/$USDC.e (BeefyFinance)$DAI (BeefyFinance)$MAI/$USDC.e (BeefyFinance)$MIM/$USDC.e/$USDT (BeefyFinance)I am planning on adding links to each of the vaults within the dashboard, adding new vaults and chains, and including some other cool features to enhance overall UX/UI. Happy farming 🌾 👻.View Dashboard🐦 Last Week in Crypto Twitter (CT)For those who didn’t see on my Twitter, this is a bearish opinion on Pendle that was very thought provoking to read: SimplePunts @SillyPunts INTRO and TLDR: Unlike what the influencers have claimed, @pendle_fi does not work. While I do appreciate the immense effort the team has put in, I cannot ignore the flaws I see in the protocol design. And here’s me taking a crack at Pendle. Read on to understand my view 288 1:28 PM • Jul 21, 2023 Liquity V2 looks to be interesting. They’re targeting hedging with this upgrade. Liquity @LiquityProtocol Solving the holy grail of delta-neutral hedging One of the main challenges that protocols with a decentralized reserve have faced is that when there’s not enough demand for leverage = there can be very high hedging costs, which can cause immense strain for the protocol.… 128 12:11 AM • Jul 21, 2023 Liquity @LiquityProtocol Innovation #2: The secondary market The secondary market refers to a marketplace within Liquity v2, where users can buy and sell their hedging positions. The secondary market plays a crucial role in helping to mitigate the risks for the protocol. How When users want to… 43 3:00 PM • Jul 21, 2023 GRAIN airdrop eligibility list is live! Depending on your size, it’s not very much. In addition, the liquidity is pretty thin at this time and a lot of airdrop farmers are looking to dump. So, what am I going to do? I’m going to drop it in an LP and yield off of it because by the time I claim, the token value is going to drop pretty quickly. We need to give GRAIN time to get some fundamentals in line before the returns are nice, so if you believe in them long term, selling this airdrop for Pennies isn’t really worth it: The Granary 🌾 @GranaryFinance Hello, Farmers! A list of eligible airdrop users can be found on our GitHub at: github.com/The-Granary/ai…. Happy farming! 164 9:10 PM • Jul 24, 2023 Pendle will be deploying on Manyle, a newer alt L1 that has caught some buzz on CT: Pendle @pendle_fi Pendle to the Mantle We're excited to share that Pendle is a proud recipient of the @0xMantle Ecosystem grant! With this, we'll be going full speed ahead to bring the power of yield management to Mantle, seeding and nurturing an #LSD economy within the ecosystem … 635 8:59 AM • Jul 25, 2023 Interesting news from Optimism, giving the community power over the SuperChain: https://optimism.mirror.xyzIntroducing the Law of ChainsThe OP Stack was built to be the most forkable, modular scaling infrastructure out there. When we introduced it, we explained that it was our bet on the ingenuity of the entire Ethereum community.Additional:Frax is experimenting with RWAs and tbills, for V3 Launch: Cryptovestor @Cryptovestor77 More supporting docs regarding launch of frax V3. $FXS will become the onchain version of circle with one major difference you earn the tbill yield not circle! 51 8:14 AM • Jul 29, 2023 Thanks for reading the Defi Vaults Newsletter! Subscribe for free to receive DeFi yields, and insights straight to your inbox, every week.Subscribe

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